FINANCE & SECURITIES

T-Bill Rates Mixed in Weekly Auction: The Treasury Department sold $14.1 billion in three-month bills at an average discount rate of 5.03%, unchanged from last week. Another $14.1 billion was sold in six-month bills at an average discount rate of 5.14%, up from 5.11%. The three-month-bill rate was the highest since they sold for 5.07% on April 1. The six-month-bill rate was the highest since they averaged 5.19% on April 8. The new discount rates understate the actual return to investors--5.16% for three-month bills with a $10,000 bill selling for $9,872.90 and 5.35% for a six-month bill selling for $9,738.70. In a separate report, the Federal Reserve Board said the average yield for one-year Treasury bills was unchanged at 5.59% last week. The next auction of two-year notes is today; five-year notes will be auctioned Thursday.